One of the credos of Sumitomo's Business Philosophy, passed down for 400 years, says: "Benefit for self and others, private and public interests are one and the same." This means that Sumitomo's business activities must benefit not only Sumitomo's own business, but also society and the nation. The idea behind this credo represents the essence of corporate social responsibility (CSR), and has been carried on in Sumitomo Corporation Group's Corporate Mission Statement, which includes "We aim to constantly stay a step ahead in dealing with change, create new value, and contribute broadly to society," and "To achieve prosperity and realize dreams through sound business activities." For the Sumitomo Corporation Group, CSR is nothing other than putting our Corporate Mission Statement into practice. That is, our CSR activities are planned and implemented as business strategies after considering what we should do and how we should do it as a corporation to help solve social issues through our business activities.
The Sumitomo Corporation Group, with its presence in a large range of industries in countries and regions around the world, is working to obtain an accurate understanding of social issues and identify new needs through dialogue with stakeholders. Using this information, we can offer proposals to resolve those issues by bringing together our unique strengths and capabilities. In other words, we have the power to create value nobody else can match by playing a useful role in society. By leveraging that power to the full extent, we can help lift the living standards of people in the countries and regions where we do business and contribute to economic, industrial and social development, while also boosting earnings and expanding our business activities based on relationships of mutual trust. This is the positive business cycle I want to create.
In March 2009, the Sumitomo Corporation Group signed the UN Global Compact and declared its support for the 10 principles on human rights, labor standards, environment, and anti-corruption. Each employee of the Group will continue to respect these 10 principles, which share the same values as our Corporate Mission Statement, and adhere to our spirit and a strong sense of ethics, to be recognized by society as meeting and exceeding the high expectations directed toward us.
President and CEO